Roughly 450 stockholders filled the tiered Irwin M. Jacobs Hall at 5775 Morehouse Drive on Tuesday, March 2, for Qualcomm’s annual stockholders’ meeting.
Chairman/CEO Paul Jacobs presented statistics pertaining to Qualcomm’s fiscal 2009 performance, the company’s expanding partner relationships, a new $3 billion stock-repurchase program, and industry trends.
Some of Qualcomm’s foreseen trends involve the sale of higher-end Smartphones (which are expected to exceed all computer shipments by 2011) and 3GCMA technology required for mobile broadband.
“Still some caution with regards to the economy, however, we expect the market to grow 20 percent in 2010,” said Jacobs. “We have a strong balance sheet and cash flow…up to 19 billion in significant gains.”
A meeting attendee later said, “Yes, I want to know what’s going on with the company and am happy to hear of their successes, but, honestly, I come for the extravagant breakfast buffet.” The stockholder then wrapped up a bit of extra food and stuffed it inside her purse.